60 Textile firms in Indonesia closed between 2022, 2024

Recent reports indicate that a significant number of textile firms in Indonesia have closed between 2022 and 2024, with the Indonesian Association of Textile and Fashion Industries (APSyFI) confirming the closure of around 60 companies in this sector. This trend has raised concerns within the industry, as it highlights the challenges that textile manufacturers face domestically and globally.

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Several factors are contributing to the difficulties in the textile industry, including rising production costs, competition from cheaper imports, fluctuations in raw material prices, and evolving consumer preferences. Many firms are struggling to adapt to these changes, leading to financial distress and eventual closure.

The closures have implications not only for the economy but also for employment within the sector. The textile industry is a significant source of jobs in Indonesia, and the loss of these companies will likely result in job losses, putting added pressure on local communities that depend on these positions for income.

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The government and industry stakeholders are being called upon to take action to support the surviving firms and to create a more favorable environment for the textile industry. This may involve strategic initiatives to enhance competitiveness, improve access to credit, and promote sustainable practices within the sector.

As the situation continues to develop, it will be crucial for policymakers and industry leaders to address these challenges to secure the future of Indonesia’s textile industry and protect the livelihoods dependent on it.

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